The Hellenic Republic Asset Development Fund (HRADF, also known as TAIPED) on Tuesday announced that 10 investment schemes have expressed an interest to acquire its 30 percent stake in Athens International Airport SA (AIA). HRADF is Greece’s state privatization fund.
Expressions of interest for the tender’s first phase were submitted by (in alphabetical order):
1. ADP GROUPE (an international airport operator based in France)
2. APG ASSET MANAGEMENT (a privately-owned investment manager based in The Netherlands)
3. AVIALLIANCE GMBh (an airport management company headquartered in Germany)
4. Consortium of ARDIAN INFRASTRUCTURE FUND S.C.A (a closed private equity fund managed by ARDIAN Infrastructure based in France), SICAR (an investment company in risk capital based in Luxembourg) and ARDIAN INFRASTRUCTURE FUND V B S.C.S. SICAV–RAIF (investment fund)
5. Consortium of KKR (American global investment firm) – EGIS (French engineering group)
6. Consortium of MEIF 6 ATTIC INVESTMENT (wholesale investment fund), RAFFLES INFRA HOLDING (company engaged in the business of infrastructure investment based in Singapore) and CHENGDONG INVESTMENT CORPORATION (a sovereign wealth fund based in China)
7. FERROVIAL INTERNATIONAL SE (Spanish global operator of services and infrastructure)
8. FIRST STATE INVESTMENTS (based in Hong Kong)
9. GLOBAL INFRASTRUCTURE PARTNERS (independent infrastructure investor based in New York)
10. VINCI AIRPORTS (French airport operator and manager)
HRADF’s advisors will evaluate the 10 expressions of interest and submit to the fund’s Board of Directors their recommendation regarding the candidates that qualify for the next phase of the tender.
Greece holds a 55 percent stake in AIA (30 percent owned by HRADF and 25 percent owned by the Greek state), Canada’s PSP Investments/AviAlliance GmbH holds a 40 percent and Greece’s Copelouzos Group holds the remaining 5 percent.